May 27, 2022

Time to hold corporations accountable

topic:	Economic Fairness
tags:	#corporate sustainability, #corporate accountability, #water rights, #Nestle, #NGO
located:	USA, Cameroon
by:	Quinta Thomson

Under a global economic system of unfettered capitalism, private companies continuously disregard ethical business practices in pursuit of profit, and regulation loop-holes allow many enterprises to eschew social responsibility and sustainability in their operations.

Often, habits of exploitation are developed within multinationals and corporations from wealthy nations and affect communities in the Global South. 

In Africa, for instance, an already worsening water crisis is being exacerbated by corporations and governments buying up water resources - a trend known as 'water-grabbing'. The water rights of local communities are continually infringed upon by specialised water-targeted investment funds that monetise water and make economic gains by water’s rising scarcity.

The practice of ‘water grabbing’ through the ‘virtual water’ process is estimated to reach 454 billion cubic meters annually worldwide.  

Corporate Accountability is a global campaign determined to build a "world rooted in justice where corporations answer to people… a world where every person has access to clean water, healthy food, a safe place to live and the opportunity to reach their full potential."  

As its name suggests, Corporate Accountability works to hold corporate powers accountable for their actions. It began with Nestlé and the boycotting of its campaign to implement powered infant milk throughout the rest of the world, leading to the deaths of thousands of babies.

Despite the NGO's relatively small size, the Nestlé campaign resulted in the first-ever UN Code of Marketing, setting precedents for the entire industry.

Since 2004, the organisation has been committed to countering water corporations like Nestlé and Veolia in their efforts to privatise water. The campaign has also inspired millions of people to shift from bottled water back to reinvestment in taps.

By waging 'strategic campaigns' that compel transnational corporations and governments to stop exploiting countries in the Global South, Corporate Accountability does not only protect water rights but prevents the aggravation of structural racism, income inequality and legacies of colonialism. 

You too can take part in holding corporate powers accountable by joining this water campaign. This can be done through a donation or connection with a global like-minded community.

Of course, simple steps such as reading and sharing Corporate Accountability’s campaign materials help strengthen its resistance narrative against corporations and support those being exploited. 

Image by Ryoji Iwata.